HRTX vs SONO: Correlation
How closely do Heron Therapeutics, Inc. (HRTX) and Sonos, Inc. (SONO) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRTX and SONO?
On 3 years of weekly data the HRTX/SONO correlation comes out at 0.46, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.22 versus 0.46 over 3 years. The 5-year figure is 0.36, and annualized covariance runs at 2025.4 %².
In HRTX's tracked universe of 12 assets, SONO sits right near the top at #3. Correlation aside, the last 12 months split them widely, with SONO ahead by 83.9 points (-75.6% versus +8.3%). Risk is not evenly split, since HRTX carries 2.2 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
HRTX vs SONO: side by side
| HRTX (Heron Therapeutics, Inc.) | SONO (Sonos, Inc.) | |
|---|---|---|
| 1-year return | -75.6% | +8.3% |
| 5-year return | -97.1% | -61.8% |
| Volatility (ann.) | 99.0% | 44.8% |
| Beta vs S&P 500 | 1.84 | 1.66 |
| Max drawdown (3Y) | -92.2% | -60.5% |
| Market cap | $0.1B | $1.8B |
| P/E (trailing) | – | 33.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRTX | SONO |
|---|---|---|
| 2022 | -72.6% | -43.3% |
| 2023 | -32.0% | +1.4% |
| 2024 | -10.0% | -12.3% |
| 2025 | -15.0% | +16.8% |
| 2026 | -74.5% | -14.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRTX and SONO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HRTX and SONO?
The HRTX/SONO correlation stands at 0.46 on a 3-year window (1 year: 0.22, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is SONO a good diversifier for HRTX?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hrtx-vs-sono.json
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[](https://www.pairbook.io/pair/hrtx-vs-sono/)
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Related comparisons
Hubs: HRTX correlations · SONO correlations
